Management liability insurance

Management insurance is a financial security that protects against losses associated with a managerial role in a company. The insurance covers legal fees, settlements and other costs. It should be noted that illegal activities are not covered by directors’ and officers’ insurance.

• Malicious acts or omissions resulting in financial loss or bankruptcy;
• Theft of intellectual property and deception of competitors’ customers;
• Misuse of company funds;
• Poor corporate governance;
• Non-compliance with labour laws;
• Fraud.

Ir izplatīts uzskats, ka vadības apdrošināšana galvenokārt ir aktuāla valsts vai pašvaldību kapitālsabiedrībām.  But recent research shows that public, private and even non-profit companies face management litigation risks.

Any business, including non-profit organizations, should consider investing in directors’ and officers’ insurance. Your company does not have to have tens of millions of dollars in revenue for your directors and officers to be personally sued for their decisions and actions within the company. In fact, smaller businesses with fewer assets may need protection just as much as large corporations.

• Supervisory board, management board members;
• Financial, etc. directors;
• Legal officers;
• Auditors;
• Procurators.

By choosing management insurance, officers will be able to make strategically important decisions more safely and confidently to promote the further development of the company. ASTRAL, in cooperation with a world-renowned insurance company, offers officers liability insurance. Contact us if you want to receive a personalised offer!